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Kenya's bourse turnover rises as share prices surge

Xinhua, February 1, 2017 Adjust font size:

Turnover at the Nairobi Securities Exchange (NSE) went up 30 percent Tuesday to 4.1 million U.S. dollars on a volume of 15.2 million shares from 17 million worth 3.1 million dollars, boosted by marginal increases of prices of various stocks.

The surge in prices helped reverse a downward trend of the benchmark 20 Share Index as it rose 4.6 points to 2,794.27 for the first time in over a week.

Barclays Bank, Safaricom, Kengen, Equity Bank and Umeme were among stocks whose prices rose by between 0.8 percent and 9 percent.

Safaricom, a leading telecom operator, was the day's top traded stock, moving 5.4 million shares at 0.18 dollars, an increase of 0.8 percent. The telecom on Tuesday traded its worst, a paltry 634,100 shares.

In the banking sector, Barclays Bank traded 2.5 million shares at an enhanced price of 0.07 dollars, a rise of 1.4 percent, to end the day as the second top mover while Kenya Commercial Bank transacted 1.9 million shares at 0.25 dollars.

Uganda electricity generator Umeme moved 2 million shares at 0.13 dollars, a 5 percent surge to end the day as the third top trader.

Besides the 20 Share Index, the other two indices of the market too reported gains with the All Share Index (NASI) edging 0.97 points higher to stand at 122.23 while the NSE 25 Share Index added 31.83 points to stand at 3,138.40.

The bond market had securities worth 18 million dollars transacted compared to 10 million dollars posted the previous session. Endit